RigNet Acquires Oil Camp AS

RigNet, Inc. has acquired OilCamp AS, an independent Norwegian provider of communications services to the oil industry. OilCamp operates the SOIL Network (Secure Oil Information Link), a secure, high capacity communications network for the oil and gas industry in Norway and the UK. The company also supplies communications solutions to a number of drilling rigs currently operating on the Norwegian continental shelf.

"RigNet is an outstanding fit for OilCamp," said Bjorn Munthe, chief executive officer of OilCamp. "The combination of our two companies produces many synergies and creates a new standard for the oil and gas industry. RigNet's worldwide organization and IT infrastructure presents an exciting platform for globalizing the SOIL Network and SOIL applications and services throughout the industry."

Companies often need information that is stored on the intranets of their partners, suppliers or customers. The SOIL Network is a members-only network that enables collaborative partners to access these intranets and communicate with each other quickly, reliably and securely. Companies do not have to extend their extranet to each partner or supplier individually; they are potentially connected to all other members.

In addition to the SOIL Network, OilCamp's portfolio of products and services includes SOIL Interconnect, a fast, secure and reliable fiber optic connection between Stavanger, Norway and Aberdeen, Scotland; SOIL Meeting, a videoconferencing solution that uses the SOIL Network as the distribution point; SOIL Offshore, a high-bandwidth communications solution for drilling rigs and offshore platforms, enabling all companies onboard to work over their own networks using one common secure IP network; and SOIL Hosting, a value-added service providing hosting and managed services solutions to industry applications to include secure hosting facilities, helpdesk and 24/7 support.

"RigNet's goal is to be the preferred communications partner to the upstream oil and gas industry," said Omar Kulbrandstad, chief executive officer of RigNet, Inc. "We are creating a global network, allowing oil and gas customers to easily connect onshore and offshore throughout the world. Today's announcement demonstrates our continued commitment to and focus on delivering complete end-to-end communications technologies and solutions to reduce costs and improve the efficiency and quality of the upstream oil and gas industry."

Bjorn Munthe and Tom Rune Espedal, sales and marketing director for OilCamp, will continue to lead the management and growth efforts of the SOIL Network throughout the North Sea and globally.

Trygve Hagevik, RigNet's vice president, Europe and Africa, will assume management for OilCamp's offshore communications services. "This acquisition will give RigNet an increased presence in the North Sea region," Hagevik said. "I am very excited about building upon the great customer service and continued growth in this region."

The SOIL Network was first established in Norway in 1997, instantly connecting the oil and gas community, and became an integral part of the Norwegian communication landscape. Today the SOIL Network is used by over 175 oil companies and oil and gas industry suppliers throughout the North Sea region.

Addressing the communications challenges faced by oil and gas companies today in remote locations, RigNet uses leading satellite and networking technologies to provide a high-quality solution for broadband data, voice and video communications as well as real-time data management. RigNet installs, manages and supports communication systems without requiring its customers to invest in and manage expensive telecommunications equipment, allowing them to redirect valuable resources to their core businesses. RigNet real-time data management acquires, distributes and manages real-time and historical well site data.